Donald Roy on Nostr: npub1g0tuf…3tvm4 The logic of her policies was radical shock therapy involving the ...
npub1g0tuf634rz4suczwj7kgnecr6cyt0eu9xmp3sp0fku68mqehq4msp3tvm4 (npub1g0t…tvm4)
The logic of her policies was radical shock therapy involving the liquidation of a large number of "zombie" firms. This would have been through very high interest rates to offset the deficits her unfunded tax cuts would have produced. If she had been lucky she would have repeated the events of 1921-22 and 1979-82 - following which there was quite rapid economic growth. If not the financial system - or large parts of it - would have collapsed. Glad the experiment ended in time!
The logic of her policies was radical shock therapy involving the liquidation of a large number of "zombie" firms. This would have been through very high interest rates to offset the deficits her unfunded tax cuts would have produced. If she had been lucky she would have repeated the events of 1921-22 and 1979-82 - following which there was quite rapid economic growth. If not the financial system - or large parts of it - would have collapsed. Glad the experiment ended in time!